Fortress Biotech closes registered direct offering of 3.3M units at $3.33 for $11M gross proceeds

Fortress Biotech, Inc.

Offered 3,303,305 units at $3.33 each, each consisting of one share of common stock and one warrant.
Warrants have exercise price of $3.21 per share, immediately exercisable, expiring five years from issuance.
Gross proceeds approximately $11.0 million before placement agent fees and expenses.
Net proceeds to be used for operations, including R&D, clinical trials, acquisitions, and working capital.
Roth Capital Partners acted as exclusive placement agent with a 7% commission; offering closed on January 3, 2024.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Fortress Biotech, Inc. entered into Securities Purchase Agreement with the purchasers valued at approximately $11.0 million (effective 2023-11-10).

Action: entry
Agreement: equity purchase
Counterparty: the purchasers
Value: approximately $11.0 million
Effective: 2023-11-10

Exact text from the filing

a Securities Purchase Agreement (the “ Securities Purchase Agreement ”), dated November 10, 2023, between the Company and the purchasers party thereto.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Fortress Biotech, Inc. entered into Placement Agency Agreement with Roth Capital Partners, LLC (effective 2023-12-29).

Action: entry
Agreement: underwriting
Counterparty: Roth Capital Partners, LLC
Effective: 2023-12-29

Exact text from the filing

a Placement Agency Agreement, dated as of December 29, 2023, between the Company and Roth (the “ Placement Agency Agreement ”).

View on SEC.gov

38 material agreements filed in the last 30 days. Browse all material agreements →

Fortress Biotech, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-000821

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